Stephens Begins Coverage on America’s Car-Mart (NASDAQ:CRMT)

Research analysts at Stephens initiated coverage on shares of America’s Car-Mart (NASDAQ:CRMT) in a report issued on Wednesday, Marketbeat reports. The firm set an “equal weight” rating and a $50.00 price target on the stock. Stephens’ target price points to a potential upside of 18.51% from the stock’s current price.

Separately, StockNews.com upgraded America’s Car-Mart from a “sell” rating to a “hold” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, America’s Car-Mart currently has an average rating of “Hold” and an average target price of $50.00.

America’s Car-Mart Stock Performance

NASDAQ:CRMT opened at $42.19 on Wednesday. America’s Car-Mart has a 52 week low of $37.98 and a 52 week high of $85.68. The firm’s fifty day moving average is $43.28 and its 200-day moving average is $55.27. The firm has a market cap of $270.02 million, a P/E ratio of -7.43, a P/E/G ratio of 1.24 and a beta of 1.67.

America’s Car-Mart (NASDAQ:CRMT) last issued its quarterly earnings results on Wednesday, September 4th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.81). America’s Car-Mart had a negative net margin of 2.66% and a negative return on equity of 7.75%. The firm had revenue of $347.76 million for the quarter, compared to the consensus estimate of $338.78 million. During the same period last year, the company posted $0.63 EPS. The business’s revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that America’s Car-Mart will post 0.93 earnings per share for the current year.

Insider Activity

In other news, Director Joshua G. Welch acquired 23,255 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was purchased at an average price of $43.00 per share, for a total transaction of $999,965.00. Following the completion of the acquisition, the director now directly owns 148,955 shares in the company, valued at $6,405,065. The trade was a 18.50 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Adam K. Peterson bought 813,953 shares of the stock in a transaction dated Thursday, September 19th. The shares were purchased at an average cost of $43.00 per share, for a total transaction of $34,999,979.00. Following the completion of the transaction, the insider now directly owns 1,582,363 shares of the company’s stock, valued at $68,041,609. This trade represents a 105.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 19.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CRMT. Sentry Investment Management LLC purchased a new position in shares of America’s Car-Mart during the third quarter valued at approximately $113,000. EntryPoint Capital LLC purchased a new position in America’s Car-Mart during the 1st quarter worth $178,000. Hsbc Holdings PLC bought a new stake in shares of America’s Car-Mart in the 2nd quarter worth $221,000. Argent Capital Management LLC purchased a new stake in shares of America’s Car-Mart in the second quarter valued at about $231,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of America’s Car-Mart in the first quarter valued at about $240,000. 89.10% of the stock is owned by institutional investors.

About America’s Car-Mart

America’s Car-Mart, Inc, through its subsidiaries, operates as an automotive retailer for the used car market in the United States. It primarily sells older model used vehicles and provides financing for its customers. The company was founded in 1981 and is headquartered in Rogers, Arkansas.